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What biotech companies should know about M&A in down markets Later during the panel, Mayukh Sukhatme, President & Chief Investment Officer at Roivant Sciences, observed, There are two markets that are happening right now: the haves and the have-nots. His observations are supported by the report, which found that while the late stage assets (or biotech companies) enjoy a 73% premium one day post-announcement, 27% of biotechs in early stage development have less than one year of cash to sustain their operations. STATUS List: Matt Gline, Roivant CEO Matt Gline landed Roivant Sciences, the drug firm founded by former GOP presidential candidate Vivek Ramaswamy, one of biotechs biggest deals last year